Will my interest rate on my current mortgage change if I buy a new primary residence?
99% of the time, the answer is no. A change in the occupancy of a house will not change the interest rate.
Will I be denied a mortgage due to withdrawals from ATMs from my bank account?
Very unlikely. Mortgage underwriters will review bank statements looking for any large deposits or automatic withdrawals going to pay undisclosed debt. In the process of reviewing bank statements, an underwriter
What is a recast?
Mortgage recasting, also known as re-amortization, is a process that allows homeowners to reduce their monthly mortgage payments without changing the interest rate or term of the loan.
Can I get approved for a mortgage with a past bankruptcy?
Yes. Many mortgages allow borrowers with a past bankruptcy filing to be approved for a mortgage after waiting a period of time.
What is an escrow account?
An account that is created with your mortgage to collect and disburse payments related to real estate taxes and insurance.